New research from Ipsos UK highlights the ongoing impact of the cost-of-living crisis on British consumers, with 76% of Britons reporting higher grocery shopping costs over the past year. Among those facing increased expenses, 36% struggle to afford them, with the challenge most pronounced among individuals aged 35-54 and those in social classes C2DE. Meanwhile, 39% of those spending more on groceries say they find it easy to afford.
In response to rising food prices, many are adapting their shopping habits to save money. The most common tactic is switching to cheaper brands, with just over two in five (44%) saying they have made this change in the past year. This is followed by purchasing ‘yellow sticker’ items approaching their use by date (36%) and not buying non-essential items (35%).
When asked about other behavioural changes they may have done to reduce costs, half (51%) say they are buying products from supermarket value ranges more than they would have a year ago, and 35% say they are using price comparison websites more. Conversely, people are more likely to say they have cut back on buying from premium ranges, dining out, cinema visits, and bar/club outings over the past year.
Three in five Britons (59%) believe supermarkets should prioritise keeping product prices low, even if it means discontinuing certain brands or products. When it comes to assigning blame for price rises, Britons are cynical about the motivations of utility companies and broadband/phone providers. Just over two in five (43% and 42% respectively) believe these industries are mainly raising prices to boost profits, rather than simply covering their own increased costs due to inflation.
Commenting on the findings, Gideon Skinner, Senior Director of UK Politics at Ipsos, said:
“From a voter’s perspective, the key measure of the UK economy’s performance is the cost of living, and the price of their weekly shop is a very tangible experience of this. Even though the rate of inflation has been more stable, Britons are still feeling the impact of rising grocery prices, and a concerning 1 in 4 are finding this difficult to afford.”
“Many consumers are turning to cost-saving measures, such as switching to cheaper value brands and seeking out discounted items, while feeling they have to cut back on going out. Our research also reveals a clear desire for supermarkets to prioritise affordability, even if it means making tough choices about product ranges.”
